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Dec 31, 2021
Weyerhaeuser Q4 2021 Earnings Report
Weyerhaeuser reported fourth quarter earnings with net earnings of $416 million, or 55 cents per diluted share.
Key Takeaways
Weyerhaeuser reported fourth quarter net earnings of $416 million, or 55 cents per diluted share, on net sales of $2.2 billion. Excluding a total after-tax benefit of $49 million for special items, the company reported fourth quarter net earnings of $367 million, or 49 cents per diluted share. Adjusted EBITDA for the fourth quarter of 2021 was $674 million.
Achieved record full year net earnings of $2.6 billion, or $3.47 per diluted share
Increased full year Adjusted EBITDA by 86 percent to a record $4.1 billion
Generated record full year cash flow from operations of $3.2 billion and Adjusted FAD of $2.6 billion
Delivering total cash return to shareholders of more than $2 billion based on 2021 results
Weyerhaeuser
Weyerhaeuser
Weyerhaeuser Revenue by Segment
Revenue by Segment
Timberlands Revenue
CapyFin.comReal Estate & ENR Revenue
CapyFin.comWood Products Revenue
CapyFin.com Forward Guidance
Weyerhaeuser anticipates first quarter earnings and Adjusted EBITDA will be significantly higher than the fourth quarter.
Positive Outlook
- In the West, the company expects significantly higher domestic sales realizations and fee harvest volumes, moderately higher export sales realizations, and seasonally lower forestry and road costs.
- Engineered wood products sales volumes are expected to be higher with comparable sales realizations.
- For lumber, the company expects moderately higher log costs and slightly lower sales volumes, partially offset by improved unit manufacturing costs.
- The company expects modestly higher sales volumes for oriented strand board, partially offset by moderately higher fiber costs.
- In the South, the company expects comparable sales realizations and seasonally lower forestry and road costs.
Challenges Ahead
- Earnings and Adjusted EBITDA decreased from the third quarter due to lower real estate sales.
- Sales volumes were significantly lower than the third quarter for lumber and slightly lower for oriented strand board, largely due to weather-related transportation challenges in Canada.
- Fourth quarter results include an adjustment to our self-insurance accruals, primarily due to elevated medical claims activity.
- Sales realizations for lumber increased by 15 percent compared with the third quarter average, which was more than offset by a 29 percent decrease for oriented strand board.
- In the South, the company expects slightly higher per unit log and haul costs and slightly lower fee harvest volumes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income